Jim Cramer Warned About Market Manipulation & Discussed These 22 Stocks

16. Micron Technology, Inc. (NASDAQ:MU)

Number of Hedge Fund Holdings in Q1 2026: 154

Memory chip manufacturer Micron Technology, Inc. (NASDAQ:MU) is one of the hottest stocks on Wall Street. Its shares are up by an unbelievable 927% over the past year and by 207% year-to-date. Barclays discussed Micron Technology, Inc. (NASDAQ:MU) on May 27th as it raised the share price target to $1,175 from $675 and kept an Overweight rating on the stock. The bank commented that the chip company was benefiting from the fact that memory chips remained the hottest item in the AI buildout after GPUs. A day earlier, UBS had raised Micron Technology, Inc. (NASDAQ:MU)’s share price target to $1,625 from $535 and kept a Buy rating on the stock on the back of benefits from long term memory supply agreements. Cramer commented on the firm’s CEO and its role in the data center market:

“Look, when you talk to Sanjay, okay, Sanjay will tell you, look I can’t make it. And I’m trying to make it 24/7, I can’t. He told you that high bandwidth memory is really the choking point. That’s what you really need in every data center. . .”

Heartland Mid Cap Value Fund discussed Micron Technology, Inc. (NASDAQ:MU) in its Q1 2026 investor letter:

“Beneath the surface, excitement surrounding artificial intelligence (AI) continues to foster an environment of extreme valuation disparity between perceived winners and losers of an AI infrastructure buildout and the associated implications of use cases proliferating across the global economy. Euphoria is typically born in truth (a positive business driver) and then over-extrapolated in valuation. Micron Technology, Inc. (NASDAQ:MU) is currently a major AI beneficiary due to surging demand for memory and storage. An observation of Micron Technology’s enterprise value to sales multiple provides one indication of where we are today. In just a few years, MU has seen its EV/sales multiple expand six-fold.  MU is a “Deep Value” company, one which was a strong contributor to our portfolio in the 2023-24 timeframe. Despite very real revenue/margin drivers from AI demand, we expect the passage of time to prove that MU remains an extremely cyclical and capital-intensive company that still sells a commodity and can have violent swings in profitability.”